Why Live in Island Lake
Island Lake in Novi offers luxurious lakefront living with extensive outdoor recreation opportunities. Located south of Interstate 96 and 35 miles from downtown Detroit, this private community features grand houses with manicured lawns and well-maintained sidewalks. Homes in Island Lake are primarily two-story detached houses or condos built in the early to mid-2000s, showcasing colonial or Cape Cod-inspired architecture. Interiors typically offer over 2,500 sq ft of space with three bedrooms, and many homes provide private lake views or access. The neighborhood is known for its active lifestyle, with residents enjoying private access to a mile-long lake, fishing, paddle boating, motorboating, a beach area, swimming pool, tennis, volleyball, and pickleball courts. North Park offers green spaces, playgrounds, and picnic areas.
Students attend highly rated schools in the Novi Community School District, including Woods Elementary School, Novi Meadows Middle School, Novi Middle School, and Novi High School, all of which hold high ratings. Local attractions include dining options along Wixom Road, such as The Grand Diner, and shopping at Sam’s Club, Target, and Aldi. The community hosts various events throughout the year, including dinners, book clubs, garage sales, and a classic auto show. Island Lake is conveniently located a mile from Interstate 96, providing easy access to Detroit, Ann Arbor, and other cities. The neighborhood's crime rate is lower than the national average, contributing to its appeal for families seeking a safe and vibrant community.
Frequently Asked Questions
Is Island Lake a good place to live?
Island Lake is a good place to live. Island Lake is considered very car-dependent and somewhat bikeable. Island Lake has 7 parks for recreational activities. It is sparse in population with 2.9 people per acre and a median age of 42. The average household income is $246,742 which is above the national average. College graduates make up 83.9% of residents. A majority of residents in Island Lake are home owners, with 7.2% of residents renting and 92.8% of residents owning their home. A
local real estate agent serving Island Lake can help you decide if this neighborhood is the right one for you. Learn more on our
Island Lake neighborhood guide.
How much do you need to make to afford a house in Island Lake?
The median home price in Island Lake is $800,000. If you put a 20% down payment of $160,000 and had a 30-year fixed mortgage with an interest rate of 6.35%, your estimated principal and interest payment would be $3,980 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $171K a year to afford the median home price in Island Lake. The average household income in Island Lake is $247K.
What are the best public schools in Island Lake?
The best public schools that serve Island Lake are:
What are the best private schools in Island Lake?
The best private schools that serve Island Lake are:
What are the most popular zip codes in Island Lake, Novi, MI?
Are home prices dropping in Island Lake?
Yes, home prices in Island Lake are down 9% in the last 12 months.
Home Trends in Island Lake, MI
On average, homes in Island Lake, Novi sell after 20 days on the market compared to the national average of 52 days. The median sale price for homes in Island Lake, Novi over the last 12 months is $840,000, consistent with the median home sale price over the previous 12 months.
Median Sale Price
$840,000
Median Single Family Sale Price
$1,050,000
Median 2 Bedroom Sale Price
$435,000
Average Price Per Sq Ft
$251
Number of Homes for Sale
4
Last 12 months Home Sales
33
Median List Price
$800,000
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
0%
